Spencer Heath Archive

Item 2011

Annotation on page 13 of Friedrich A. von Hayek, Freedom and the Economic System, Public Policy Pamphlet No. 29, edited by Harry D. Gideonse (The University of Chicago Press, 1939)

Original is missing.

Hayek:  “… some amount of central planning of this kind will always be necessary. There are unquestionably fields, like the fight against contagious diseases, where the price mechanism is not applicable, either because some services cannot be priced, or because a clear object desired by an overwhelming majority can only be achieved if a small dissenting minority is coerced.” /Emphasis by Spencer Heath, who adds in the margin, “Not so!”/

The net of public services is always priced in location rent.